Owning a home, especially for lower-income households, is an
important means of wealth accumulation. For low-income minority
families, median average annual housing wealth appreciation is $1,712
whereas there is no non-housing wealth accumulation. This wealth is
achieved both through equity and forced savings resulting from mortgage
repayment. (Boehm and Schlottmann: 2004)
Homeownership increases intergenerational wealth accumulation
through improved educational achievement in children, which leads to
greater earnings when these children enter the workforce. (Boehm and
Schlottmann: 2002)
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